Table of Contents Table of Contents
Previous Page  7 / 32 Next Page
Show Menu
Previous Page 7 / 32 Next Page
Page Background


Free issue of MICHAEL

tures. They’re honest and they

will honor their pledges. Honest,

hardworking people were put into

this world to serve the Financiers.

“Oh great Mammon ! I feel

your banking genius coursing

through my entire being! Oh, il-

lustrious master ! How right you

were when you said: ‘Give me

control of a nation’s money and I

won’t mind who makes its laws.’ I

am the master of Salvation Island

because I control its money.

“My soul is drunk with en-

thusiasm and ambition. I feel I

could rule the universe. What I,

Oliver, have done here, I can do

throughout the entire world. Oh!

If only I could get off this island!

I know how I could govern the

world without wearing a crown.

“My supreme delight would

be to instill my philosophy in the

minds of those who lead society:

bankers, industrialists, politicians,

reformers, teachers, journalists

– all would be my servants. The

masses are content to live in slav-

ery when the elite from among

them are constituted to be their


12. The cost of living unbearable

Meanwhile, things went from

bad to worse on Salvation Island.

Production was up and barte-

ring had dropped to a minimum.

Oliver collected his interest regu-

larly. The others had to think of

setting money aside for him.

Thus, money tended to clot ins-

tead of circulating freely.

Those who paid the most in

taxes complained against those

who paid less. They raised the

prices of their goods to compen-

sate for this loss. The unfortunate

poor who paid no taxes lamented

the high cost of living and bought


If one took a salaried job with

another, he was continually de-

manding increases in salary in or-

der to meet the mounting cost of


Morale was low. The joy went

out of living. No one took an inter-

est in his work. Why should he?

Produce sold poorly. When they

would make a sale, they had to pay

taxes to Oliver. They went without,

this was a real crisis. And they ac-

cused one another of wanting in

charity and of being the cause of

the high cost of living.

One day, Harry, sitting in his

orchard, pondered over the situa-

tion. He finally arrived at the con-

clusion that this “progress”, born

of a refugee’s monetary system,

had spoiled everything on the is-

land. Unquestionably, all five had

their faults but Oliver’s system

seemed to have been specifically

designed to bring out the worst in

human nature.

Harry decided to demonstrate

this to his friends and to unite

them for action. He started with

Jim, who was not hard to con-

vince. “I’m no genius,” he said,

“but for a long time now there’s

been a bad smell about this bank-

er’s system.”

One by one they came to the

same conclusion and they ended

up by deciding to have another

conference with Oliver.

13. Enslaved by Oliver

A veritable tempest burst

about the ears of the banker.

“Money’s scarce on the is-

land, fellow, because you take it

away from us ! We pay you and

pay you and still we owe you as

much as at the beginning. We

work our heads off ! We’ve the

finest land possible and yet we’re

worse off than before the day of

your arrival. Debts ! Debts ! Up to

our necks in debts ! ”

“Now boys, be reasonable !

Your affairs are booming and it’s

thanks to me. A good banking

system is a country’s best asset.

But if it is to work beneficially,

you must have faith in the bank-

er. Come to me as you would to

a father... Is it more money that

you want ? Very well. My barrel of

gold is good for many thousands

of dollars more. See, I’m going to

mortgage your latest acquisitions

and lend you another thousand

dollars right now.”

“So! Now our debt goes up

to $2000 ! We are going to have

twice as much interest to pay for

the rest of our lives ! ”

“Well, yes – but I’ll lend you

more whenever the value of your

property increases. And you’ll

never pay anything but the inter-

est. You’ll lump all your debts into

one – what we call a consolidat-

ed debt. And you can add to the

debt, year after year.”

“And raise the taxes, year after

year ? ”

“Obviously. But your revenues

also increase every year.”

“So then, the more the coun-

try develops each year because

of our labor, the more the public

debt increases ! ”

“Why, of course ! Just as in

your country – or in any other

part of the civilized world for that

matter. The degree of a country’s

civilization is always gauged by

the size of its debt to the bankers.”